$DRIFT
Entry Range: $0.70 - $0.75
Action: Sell ๐
SL (Stop Loss): $0.78
TP 1: $0.65
TP 2: $0.58
TP 3: $0.50
๐ฅ Check Price and Trade Now ๐
๐จ Note: Trade at your own risk. DYOR.
Analysis of the Short Trade Setup:
Bearish Daily Performance (-12.06%) signals strong selling momentum.
Lower High Formation confirms a potential downtrend continuation.
Increased Trading Volume (+30.10%) suggests panic selling rather than accumulation.
Key Resistance at $0.75 - $0.78: This zone has rejected price movement multiple times.
Break Below $0.68 Support: Opens the door for a drop toward $0.65 and lower.
๐ Why Should Investors Follow This Setup?
DRIFT is currently 74.3% down from its ATH ($2.65), showing weak long-term sentiment.
The lack of strong support until $0.58-$0.50 makes further downside likely.
With the overall market showing uncertainty, risk-off sentiment could push prices lower.
Reversal Possibility Trade Setup (Bullish Scenario):
If DRIFT reclaims $0.78 with strong volume, consider a long position:
Entry Range: $0.78 - $0.82
Action: Buy ๐
SL: $0.70
TP 1: $0.85
TP 2: $0.92
TP 3: $1.00
Reason for Reversal:
Break Above $0.78 Resistance: Could trigger short squeezes, pushing price higher.
Increased Buy Volume: If volume spikes significantly, buyers might take control.
Psychological Level at $0.80: A sustained hold above this level could attract bullish momentum.
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